The Number of rural real estate transactions may have fallen this autumn, but the same cannot be said for price
“People are looking at the value long term, and with good properties there tends to be very little change in price. There are people out there who still want to get into the rural market” says Mr Newbold.
While six months ago much of this was corporate interest, recently more buyers have been neighboring farmers or locals. Having said that, there is still a corporate presence in the market.
Although overall farm sale volumes have dropped this year, the North Island continues to move along strongly.
“The South Island has been slower, likely due to less large farms on the market as well lower dairy prices and the drought in some parts. The North Island has fared better, likely because of the smaller block sizes and more diverse land use” says Peter Newbold.
Despite traditionally having two key selling seasons (spring and autumn) there has been more activity between seasons over the last several years. Higher sales in the spring and autumn periods are generally because farms are looking their best during this time of year.
This month’s featured property is being marketed by Darrell Duncan and Bill McDonald out of Gore. It’s a developing dairy unit, located at 219 Beacon Hill Road, with a land size of 179.17 hectares and a 54 bail rotary, Westphalia plant. It has a large four bedroom modern home as well as a calf rearing shed, cattle yards, woolshed and two silage pits. For sale at $5.2M plus GST (if any), excluding shares.